Exide Industries shares hit 52-week high after Morgan Stanley raises target price

Shares of Exide Industries Limited zoomed over 6 percent to hit a new 52-week high of Rs 423 a piece

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on April 15 as Morgan Stanley raised the target price to Rs 485 from Rs 373

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The new price target implies an upside of 22.8 percent from the close of Rs 398 on April 12.

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The firm's share price has surged over 120 percent in the last year.

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The international brokerage is of the view that the battery manufacturing company's shares

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rise significantly over the next ten years. Furthermore, the government's support for Made in India

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